BMW Group furthers its Indian initiative

New Delhi: Premium German automobile company, BMW Group has appointed
Mr. Peter Kronschnabl, as the Country Head and President for its highly
anticipated Indian subsidiary. The company has already earmarked an
investment of Rs 1.1 Billion into the Indian luxury car market, and is
expected to complete its plant in Chennai by end 2006. Speaking to the
press, Mr. Peter Kronschnabl, Country Head and President of BMW India
Private Limited, said, "We at BMW Group, have always longed to be a
part of the Indian luxury car market. As a fast growing economy, India
is opening itself to global brands and this for us is an opportunity to
enter the competition in this market. The production and sales
subsidiary will be owned 100% by BMW Group and we plan to commence full
business operations by the beginning of 2007, as scheduled." The
company initially intends to employ around 200 people in India, with
most of them working at the plant in Chennai. Up to 600 additional jobs
will be created in the dealer and service network. From 2007, there are
going to be initially six newly appointed BMW dealers in Delhi, Mumbai,
Chandigarh and Bangalore. The Chennai plant will produce the BMW 3
Series and 5 Series saloons. Both models are going to be available with
efficient gasoline and diesel engines for the dynamic BMW driving
pleasure. The assembly plant in India joins BMW Group's production
network of world-wide 23 production locations in 13 countries. BMW
India Private Limited, to be located in Delhi / Gurgaon, is one of 35
national BMW Group sales companies. About BMW Group: With its three
brands BMW, MINI and Rolls-Royce, the BMW Group is the only automobile
manufacturer worldwide to operate with all brands exclusively in the
premium segments of the automotive market, from the small car segment
to top-of-the-range luxury limousines. Along with its automotive
business, the BMW Group's activities comprise the development,
production and marketing of motorcycles, as well as comprehensive
financial services for private and business customers. In fiscal 2005,
the company delivered a total of 1.327.992 automobiles and 92,266
motorcycles. Revenues amounted to 46.656 million euros; net profit
reached 2.239 million euros. The company has a workforce of
about106,000 employees all over the world. The company's current
product portfolio comprises of ten model lines: • BMW 1 Series,
BMW 3 Series, BMW 5 Series, BMW 6 Series, BMW 7 Series, BMW X3, BMW X5,
BMW Z4. • MINI (One, Cooper, Cooper S, Convertible). •
Rolls-Royce Phantom. If you have any questions, please contact:
Corporate Communications Linus Schmekel, Business and Finance
Communications Telephone: +49 89 382 30474, fax +49 89 382-24418 Mobile:
+49 160 93902189 Email: linus.schmekel@bmw.de Risha Dhingra, Perfect
Relations Telephone: 011 2437 9862 - 69; Mobile 9810023269 Email: rdhingra@perfectrelations.com